American Century Companies Inc. Increases Stock Position in Range Resources Co. (NYSE:RRC)

American Century Companies Inc. grew its holdings in Range Resources Co. (NYSE:RRC - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 361,966 shares of the oil and gas exploration company's stock after acquiring an additional 26,526 shares during the period. American Century Companies Inc. owned about 0.15% of Range Resources worth $13,024,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Amundi boosted its stake in shares of Range Resources by 233.2% in the 4th quarter. Amundi now owns 1,180,913 shares of the oil and gas exploration company's stock valued at $44,308,000 after buying an additional 826,530 shares during the period. JPMorgan Chase & Co. grew its holdings in Range Resources by 61.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,579,579 shares of the oil and gas exploration company's stock worth $48,588,000 after acquiring an additional 604,199 shares in the last quarter. Telemark Asset Management LLC purchased a new stake in shares of Range Resources in the 4th quarter valued at approximately $14,392,000. HITE Hedge Asset Management LLC acquired a new stake in shares of Range Resources in the 3rd quarter valued at $11,508,000. Finally, Boston Partners lifted its position in shares of Range Resources by 4.9% during the 4th quarter. Boston Partners now owns 7,976,052 shares of the oil and gas exploration company's stock worth $287,078,000 after purchasing an additional 371,777 shares during the last quarter. Institutional investors and hedge funds own 98.93% of the company's stock.

Remove Ads

Range Resources Stock Performance

RRC traded down $4.57 during trading on Friday, reaching $33.51. The company's stock had a trading volume of 5,937,848 shares, compared to its average volume of 2,373,464. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.54 and a current ratio of 0.54. The company's fifty day moving average price is $38.29 and its 200-day moving average price is $35.54. Range Resources Co. has a 52-week low of $27.29 and a 52-week high of $41.95. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 5.11 and a beta of 1.73.

Range Resources (NYSE:RRC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The oil and gas exploration company reported $0.68 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.13. The firm had revenue of $626.42 million for the quarter, compared to analyst estimates of $676.53 million. Range Resources had a return on equity of 13.69% and a net margin of 17.63%. During the same quarter in the prior year, the company posted $0.63 earnings per share. On average, equities analysts forecast that Range Resources Co. will post 2.02 earnings per share for the current fiscal year.

Range Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.09 per share. This is a positive change from Range Resources's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 1.07%. Range Resources's payout ratio is 32.73%.

Analysts Set New Price Targets

A number of research firms have weighed in on RRC. The Goldman Sachs Group raised their price target on Range Resources from $39.00 to $43.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. Stephens raised their target price on Range Resources from $43.00 to $44.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Truist Financial upped their price target on Range Resources from $35.00 to $37.00 and gave the company a "hold" rating in a report on Monday, March 17th. Wells Fargo & Company raised their price objective on shares of Range Resources from $38.00 to $40.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Finally, Piper Sandler boosted their price objective on shares of Range Resources from $32.00 to $33.00 and gave the stock a "neutral" rating in a research report on Thursday, March 6th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $41.60.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), crude oil, and condensate company in the United States. The company engages in the exploration, development, and acquisition of natural gas and crude oil properties located in the Appalachian region. It sells natural gas to utilities, marketing and midstream companies, and industrial users; NGLs to petrochemical end users, marketers/traders, and natural gas processors; and oil and condensate to crude oil processors, transporters, and refining and marketing companies.